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Fintech’s direct lending puzzle

Direct lending through an NBFC licence seems to have become a security blanket for fintechs amid regulatory turmoil. However, RBI’s tough stance on handing out permits and challenges in raising capital could play spoilsport.

Fintech’s direct lending puzzle

Wednesday December 28, 2022 , 4 min Read


Next stop: renewable energy.

India is planning a $2 billion incentive programme for the green hydrogen industry, reported Reuters, to cut emissions and become a major export player in the field. The goal is to reduce the production cost of green hydrogen by a fifth over the next five years, in part by increasing the scale of the industry.

In other news, 2022 was about goodbyes to some classic tech products and services. From the iconic Internet Explorer to the pathbreaking iPod, here’s all the tech that was discontinued this year.

But hardcore iPod fans refuse to let go and modders are taking matters into their own hands. You know what they say, where there is a will…

Oh, and here’s an interesting video on how oysters make pearls.

Spoiler alert: It’s just science.

In today’s newsletter, we will talk about 

  • Fintech’s direct lending puzzle
  • TruKKer: An Uber for trucks
  • Urban Company best for gig workers

Here’s your trivia for today: Who became the first woman to own a seat on the New York Stock Exchange?

In Depth

Fintech’s direct lending puzzle

Post the Reserve Bank of India's digital lending guidelines, many fintechs are now queuing up at the regulator's doorstep in the hope of a lending licence that will help them shift from their asset-light growth and capitalise on NBFCs.

Lending rush:

  • While PhonePe, Razorpay, BharatPe, OkCredit etc were not granted licences, Ftcash and 4Fin were approved this year.
  • BlackSoil co-founder Ankur Bansal says that the reason behind the rush is the uncertainty surrounding FLDG/cash collateral regulations pertaining to non-regulated entities.
  • A Bain India CXO survey revealed that nearly 60% of fintech leaders believe that obtaining appropriate licences will drive long-term relevance and sustainable growth.
Fintechs NBFC license


TruKKer: An Uber for trucks

Riyadh-based TruKKer is a truck aggregator platform for businesses to find in-land logistical and freight support without the involvement of middlemen and freight brokers. It is also a marketplace for truck owners and fleet owners to find the right clients. 

Trucking solutions:

  • TruKKer has onboarded about 50,000 truckers and lorry drivers to date.
  • The startup has so far served more than 750 businesses for cargo movements, last-mile delivery, port movements, and more.
  • It offers trucks with capacities ranging from a tonne to 7 tonnes, as well as trailers measuring 40 feet in length.
TruKKer, Dubai


Urban Company best for gig workers

According to the Fairwork India Ratings 2022 report, Urban Company was the most equitable platform for gig workers in India, with a score of 7/10. It was the only company to check for biases in its work allocation systems and adopt anti-discrimination policies.

Worker conditions:

  • The report assessed platforms against fair pay, fair conditions, fair contracts, fair management, and fair representation.
  • bigbasket, Flipkart, and Urban Company ensure their workers earn at least the hourly local minimum wage after factoring in work-related costs.
  • Dunzo, Ola, PharmEasy, and Uber scored nil points.
Gig worker

News & updates

  • Opening up: China will start issuing new passports and Hong Kong travel permits to mainland residents as it removes some tourism barriers. The government will also resume express checkpoints on the borders with Hong Kong and Macau.
  • In relief: Spain on Tuesday announced 10 billion euros ($10.65 billion) worth of measures to ease the pain of inflation in the third major package this year, bringing total aid to 45 billion euros since early 2022.
  • No pay hike: Brits hoping for a new-year salary bump to offset soaring food and energy costs may be disappointed. The average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account, according to PwC.

Who became the first woman to own a seat on the New York Stock Exchange?

Answer: Muriel Siebert in 1967.

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